The World economic transformation over the next twenty years is Asia moving past South America in the next five years on per capita income. Most of China moving to Southern European levels by 2030. Southern Asia (India, Indonesia) reaching South American levels in per capita income around 2030. China reaching European levels around 2040. India and ASEAN getting close to Southern European levels around 2040.
From 2000 to 2010, Asia had one quarter to one-third of the per capita income of South America.
Currently on a per capita level, Asia and South America are close with Asia having about 80-90% of the per capita income of South America. Overall Asia is growing at 4-8% per year and South America at 0-3% per year.
The World Bank has cut the prediction for Brazil’s GDP growth in 2018 from 2.4 to 1.2 percent. The 2019 Brazilian growth estimate was also cut from 2.5% to 2.2%.
Brazil is the dominates South America’s per capita GDP statistics. Half of the population of South America is in Brazil. 210 million in Brazil and 430 million in South America.
China and India dominate Asia GDP statistics. They each represent about 30% of the overall population.
China will pass Brazil in per capita GDP in 2019.
China’s GDP per capita will be 20 to 30% beyond Brazil by 2023.
Around 2028 to 2035, India and the ASEAN countries will be around the per capita income level of South America. India and most of the population of the ASEAN countries are currently at the 25-30% of the per capita income level of South America.